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SingTel said to be interested in UK Cable & Wireless Worldwide
(M&A Navigator Via Acquire Media NewsEdge) Telecom group Singapore Telecoms (SIN:Z74), or SingTel, is planning an offer to buy UK telecommunications services provider Cable & Wireless Worldwide (LON:CWW) and it had approached bankers in Asia and Europe over a bid, the Independent wrote on Sunday, citing sources.
Cable & Wireless is valued at more than GBP1.8bn (USD2.8bn/EUR2.2bn) and it would cost a buyer a premium over that, the Independent said, adding that SingTel had the money to finance a deal.
US AT&T (NYSE:ATT) was also reported last week to be interested in placing a takeover bid for Cable & Wireless, but some analysts have rejected that speculation, the paper said.
SingTel acquired Optus in Australia from Cable & Wireless in 2001, according to the Independent.
SingTel is owned by sovereign wealth fund Temasek Holdings.
Country: ; UK
Sector: Telecommunications
Target: Cable & Wireless Worldwide plc
Buyer: Singapore Telecommunications Limited
Type: Corporate acquisition
Status: Bidding
((Comments on this story may be sent to tww.feedback@m2.com))
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